A loan is a debt, perhaps the most flexible debt in human history. Anything that one can lend to a person can be loaned. There are many types of loans and each one is tailored to fit certain needs. These types, however, may be lumped into two general categories: secured and unsecured. A secured loan is one which is granted on the pledge of a collateral. A good example is the mortgage loan, whereby lien is placed on the title of the house until the mortgage is fully paid off. An unsecured loan, on the other hand, is a loan that does not require a collateral. Perfect examples of this type are credit card debts and bank overdrafts. This section is all about loans and the concerns that fall under its umbrella.